Giving up

Quote from fibotrader:

Hi Baruch,

I guess so! It took me 4 years to learn about technical analysis only to find out that trading real money is quite different. I may be mistaken but are the markets different now than a few months ago? I am quite sure ES had a trend, now it is so choppy. Everything I learned cannot be applied to a choppy market. And I cannot trade a security which I am not familiar with. That will be another lesson for me. Try papertrading several types of securities at one time so at least I would know its characteristics. So I guess I will not be trading for a little while. I still believe there is money to be made in the markets if you know what you're doing.

Hi fibotrader,

With a good system (with good MM) you can make money.

Thanks,

fibotrader
More...
 
Thanks Baruch, I am good at managing my loss but how about making some money!!!

axeman,

Checked out Wealth Lab. I have never seen anything like it. All the $$$ on seminars, courses, books, live services and nobody taught me anything about backtesting? All the penants and flags and double tops and double bottoms ain't doing me any good.

I am here to learn and will sign up for the 30-day demo. If I get myself going within 30 days, I will use part of the 80% left of my portfolio and buy a license. $650 is just 13 ES points, and if I keep continuing at the rate I was going, I may lose more than that.

Thanks mate.
 
Quote from fibotrader:

Thanks Baruch, I am good at managing my loss but how about making some money!!!

axeman,

Checked out Wealth Lab. I have never seen anything like it. All the $$$ on seminars, courses, books, live services and nobody taught me anything about backtesting? All the penants and flags and double tops and double bottoms ain't doing me any good.

I am here to learn and will sign up for the 30-day demo. If I get myself going within 30 days, I will use part of the 80% left of my portfolio and buy a license. $650 is just 13 ES points, and if I keep continuing at the rate I was going, I may lose more than that.

Thanks mate.
More...

Making money? Just follow a good system, and you will make money. But it's a good idea trading a demo - with a good system -- when you have doubled your money, you are ready to trade realtime (but small).
 
Quote from axeman:

"FEAR about uncertainty is my problem and I can't get around it."


No....your problem is trading without an edge.
I cringe when I hear stories like this, and from what you
have posted so far, its obvious you have no business trading AT ALL.


Not trying to be mean or harsh, but keep what money you have
left and go back to a real job with a paycheck.

If your passionate about beating this game, go buy yourself
a copy of Wealthlab and try ideas every night until you
find a REAL EDGE.

Simulate an equity curve with commission and slippage built in.
When you have one you like, then test the system live
and measure real life slippage.

Re-simulate using your real life slippage numbers.

If the system is still good, and you have objectively proven
this system is REAL and not curve fitted garbage, then
AND ONLY THEN, start trading it with some real size.


Or dont take my advice, and keep losing money.
The above advice is easily worth all the money you have left.


Good luck...

peace

axeman


PS - give yourself at least 5 years to find your first kick
ass system if you can only work on this part time.
Yes, it could easily take you this long part time.
More...

The best edge: CONFIDENCE.
 
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